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(09 May 2024, 12:21)

Piramal Ent records turnaround Q4 performance

The NBFC reported consolidated net profit of Rs 137.09 crore in Q4 FY24 as against a net loss of Rs 195.87 crore posted in Q4 FY23.


Total income grew by 17.97% to Rs 2,528.16 crore in Q4 FY24 as compared with Rs 2,143.02 crore recorded in corresponding quarter last year.

Net interest income (NII) jumped 18% year on year to Rs 755 crore during the quarter.

Pre-provision operating profit (PPOP) was at Rs 293 crore in Q4 FY24, down 37% from Rs 466 crore reported in Q4 FY23.

Total assets under management (AUM) were up 8% YoY, led by the company’s growth business. Retail AUM jumped 49% YoY to Rs 47,927 crore in Q4 FY24.

Disbursements grew 30% YoY to Rs 7,692 crore during the period under review.

The NBFC’s net worth stood at Rs 26,557 crore with capital adequacy ratio at 25.6% on consolidated balance sheet.

In FY24, the company reported a net loss of Rs 1,683.53 crore as against a net profit o...

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